Petro Matad Limited (AIM: MATD), the AIM quoted Mongolian oil company, is pleased to announce the start of oil production from its Heron-1 discovery well in its Block XX Production Sharing Contract area in eastern Mongolia.
Commissioning activities on the Heron-1 well pad have been completed and the beam pump was started on 24 October. Clean up of well stimulation fluids is expected to take several days after which various flow rate tests will be performed. The first load of produced fluid has successfully been transported to the neighbouring Block XIX facilities. The startup ceremony went ahead on 25 October and the Company was honoured with the presence of Mr. S. Javkhlanbaatar, State Secretary of the Ministry of Industry and Mineral Resources, Mr. L. Bayarmandal, Chairman of the Mineral Resources and Petroleum Authority of Mongolia and many other senior government officials.
